Can Mike Cherkasky Reinvent Marsh?

October 27, 2004

FIRE SALE? Marsh's cash will also be depleted by any settlement money it has to fork over as well as the costs of other lawsuits. Experts say that bill may run as high as $1 billion. Says Adam Klauber, research director at Chicago insurance researcher Cochran, Coronia & Co.: "If Marsh Mac can't pay for it out of cash flow, it will need to stabilize its debt rating and eventually get it raised in order to increase financing options."

That could be tough. This summer, Marsh Mac shelled out $1.9 billion in cash and debt to buy Kroll. Many analysts argued that it had overpaid. They say, Marsh Mac is max